New set of technology behemoths to be born in India, says Pawan Munjal

Time ripe for birth of new bunch of Indian technology giants, believes Hero MotoCorp boss

Will India see the birth of a new bunch of technology behemoths in the near future? The country’s position as the largest digitally-connected open marketplace that is waiting to be leveraged and monetized, the chances are rife. Hero MotoCorp Chairman and Chief Executive Pawan Munjal believes there is a chance of the arrival of a new set of big technology companies in India.

In this context, he called upon the technology students in the country to catch hold of the big opportunities that are set to land in their midst and be ready for the challenges offered by the largest digitally-connected open marketplace.

Speaking to graduating students of Indian Institute of Technology — Gandhinagar over a virtual platform on the occasion of the IIT’s 10th convocation, Pawan Munjal pointed out that a slew of new age ideas had already landed in India from the United States, in the form of Apple, Amazon, Uber, Twitter, Facebok, Netflix and more. Post-this scenario, it is time for the next set of technology giants to be born out of India, he said.

Technology scenario has 700 mn Indians living online

A Money Control report quoted Munjal saying that close to 700 million Indians are currently online and connected to the world. This scenario has made them ‘’perhaps the largest congregation of connected people in the world, behind only China.’’.

More than billion telecom connections now out in the open, an Indian consumes close to 14 GB data every month at one of the cheapest internet rates in the world, the report quoted him as saying.

Talking of the digital revolution unfolding in the country, the Hero MotorCorp boss said that in today’s world day to day activities such as buying food and groceries, electronics, automobiles, and also reunion with family, friends and loved ones, and even attending classes and working from home are being performed digitally. And, he reminded the passing out graduates at IIT-Gandhinagar that this was just the beginning and more innovations and functionalities would take the digital route.

He also said that if China and Vietnam had become the world’s manufacturing powerhouses earlier, India now has the chance to emulate them and place itself at a rightful slot in the global economic horizon.

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